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1、1外文翻譯外文文獻(xiàn)原文Title:R&DpoliciestradeprocessinnovationNo.4784CEPRDiscussionPaperMaterialSource:R&DpoliciestradeprocessinnovationAuth:JanI.HaalNwegianSchoolofEconomicsBusinessAdministrationCEPRHansJarleKindNwegianSchoolofEcon
2、omicsBusinessAdministrationWesetupasimpletrademodelwithtwocountrieshostingonefirmeach.ThefirmsinvestincostreducingR&DeachgovernmentmaygrantR&Dsubsidiestothedomesticfirm.WeshowthatitisoptimalfagovernmenttoprovidehigherR&D
3、subsidiesthelowertheleveloftradecostsevenifthefirmsareindependentmonopolies.Iffirmsproduceimperfectsubstitutespolicycompetitionmaybecomesofiercethatonlyoneofthefirmssurvives.Internationalpolicyharmonizationeliminatespoli
4、cycompetitionensuresasymmetricoutcome.Howeveritisshownthatharmonizationisnotnecessarilywelfaremaximizing.TheoptimalcodinatedpoliciesmayimplyanasymmetricoutcomewithR&Dsubsidiestoonlyoneofthefirms.Thispaperhastwomainpurpos
5、es.ThefirstistoexpletherelationshipbetweentradecostsR&Dinvestments.Weshowthatincreasedintegration(lowertradecosts)mayincreasebothprivatesocialincentivestoinvestinR&Dmayleadfirmstosellmebothdomesticallyabroad.Thesecondpur
6、poseistostudytheeffectsofpolicycompetitioncooperationinimperfectlycompetitiveinternationalmarketsinparticulartoshowthatR&Dsubsidiesmayinfactreducethenumberofproductvarietiesinthemarket.Thisturnsouttobetruebothifthesubsid
7、iesaresetinapolicygamebetweengovernmentsmaximizingdomesticwelfareifthegovernmentssetR&Dsubsidiescooperativelytomaximizeaggregatewelfare.Theseresultsaredevelopedinasimpletwocountrymodelwithtradecosts3sufficientlyclosesubs
8、titutesitwillnotbeoptimalfromsociety’spointofviewtoinvestinprocessinnovationinbothfirms.HencetheoptimalcooperativeR&DpolicyfthetwocountriescouldbetosubsidizeR&Dinoneofthecountriesbutnotintheother.Infactitmayevenbeoptimal
9、totaxR&Dintheothercountry.Theintuitionisthattheconsumersdonotgainverymuchfromhavingaccesstodifferentvarietiesifthegoodsareclosesubstitutes.Sotoavoidduplicationoftheinvestmentcoststhefirstbestcooperativepolicycouldbetosti
10、mulateR&DinonefirmreducetheR&Dincentivesintheother.LittleresearchhasbeendoneonthelinksbetweentradeliberalizationR&Dpolicieswearenotawareofanyotherstudiesshowinghowtradeliberalizationmayincreaseprivatesocialincentivestoin
11、vestinR&Dthusleadfirmstosellmebothdomesticallyabroadeveninabsenceofstrategicinteractions.HoweverstartingwithSpencerBrer(1983)thereisalargeliteraturefocusingonthebusinessstealingmotivefsubsidizingR&D.Thisfocuscanpartlybee
12、xplainedbythefactthatinternationalagreementsprohibittheuseoffinstancepureexptsubsidies.InsuchsettingsNearyLeahy(2000)emphasizetheimptantpointthatR&Dpoliciesmaybeasecondbestoptiontosupptdomesticfirmsininternationalmarkets
13、.MeoverBagwellStaiger(1994)Brer(1995)LeahyNeary(2001)havefoundthatR&Dsubsidiescanbeamerobustinstrumentthanexptpolicies.Itshouldbenotedthoughthatthesestudiestypicallyabstractfromconsumersurpluseffectsmakethesimplifyingass
14、umptionthatallproductionisexptedtoathirdmarket.ThisstrofliteraturethusarguesthatpolicycompetitiontendstoresultinexcessiveR&D.D’AspremontJacquemin(1988)initiatedawaveofresearchthatanalyzestheconsequencesofR&Dcooperationbe
15、tweenfirmsthatcompeteintheendusermarket.BothD’AspremontJacqueminlaterstudieshavefoundthatthiskindofcooperationmaybewelfareimprovingincreaseindustryprofit.3HoweverSalantShaffer(19981999)AmirWooders(1998)pointtothefactthat
16、thesestudiespresupposethatthefirmschoosethesamelevelofR&Dsellthesamequantitieswhiletheoptimalsolutionmayactuallybeasymmetric.4InparticularSalantShaffer(1999)dealwiththefactthatitmaybeoptimaltotreatexanteidenticalagentsun
17、equallyifthereisCournotcompetitionintheproductmarket.Hencethesymmetricequilibriaidentifiedintheliteraturemaynotrepresentoptimaloutcomes.LeahyNeary(2004)relatetheresultsfromSalantShaffertothequestionofwhetherthesecondderc
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